American Tower Corporation $AMT Shares Sold by Barton Investment Management

Key Points

• Barton Investment Management reduced its stake in American Tower Corporation by 3.3% during Q2, now holding 82,633 shares valued at approximately $18.26 million.
• Multiple analysts have raised their price targets for American Tower, with JPMorgan Chase increasing theirs from $250.00 to $255.00, reflecting a positive outlook on the stock.
• American Tower's quarterly earnings showed an EPS of $2.60, slightly surpassing estimates, while the company declared a quarterly dividend of $1.70 per share with a yield of 3.6%.

Barton Investment Management trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,633 shares of the real estate investment trust's stock after selling 2,830 shares during the period. American Tower makes up about 1.9% of Barton Investment Management's holdings, making the stock its 11th largest holding. Barton Investment Management's holdings in American Tower were worth $18,264,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMT. Nuveen LLC acquired a new stake in shares of American Tower in the first quarter valued at $991,525,000. Price T Rowe Associates Inc. MD increased its holdings in American Tower by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock valued at $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Bessemer Group Inc. increased its holdings in American Tower by 272.0% in the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock valued at $247,390,000 after buying an additional 831,247 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in American Tower in the first quarter valued at $162,127,000. Finally, Amundi increased its holdings in American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust's stock valued at $645,694,000 after buying an additional 743,617 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMT shares. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the company a "sector perform" rating in a research report on Wednesday. Barclays lifted their price target on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Finally, HSBC downgraded American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective for the company. in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.07.

American Tower Stock Down 1.2%

AMT stock opened at $191.03 on Friday. The stock has a market capitalization of $89.45 billion, a P/E ratio of 69.47, a PEG ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The company has a 50 day moving average price of $202.32 and a two-hundred day moving average price of $211.93.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend payout ratio is 247.27%.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company's stock.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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